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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December
13, 2024
WORKSPORT
LTD.
(Exact name of registrant as specified in its
charter)
| Nevada |
|
001-40681 |
|
35-2696895 |
(State
or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
2500
N America Dr
West
Seneca, New York 14224
(Address of principal executive offices) (ZIP Code)
(888)
554-8789
Registrant’s
telephone number, including area code
Not
Applicable
(Former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbols |
|
Name
of each exchange on which registered |
| Common |
|
WKSP |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01 Regulation FD Disclosure.
On
December 13 2024, Worksport Ltd. (the “Company”) issued a press release: “Worksport Ltd. ($WKSP) Shares
Multiple Milestones, Strengthens Market Position as Initial Crypto (BTC and XRP) Investment Nears”. A copy of the
press release is attached hereto as Exhibit 99.1.
The
information under Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section,
or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in any such filing.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| |
WORKSPORT
LTD. |
| |
|
| Date:
December 13, 2024 |
By: |
/s/
Steven Rossi |
| |
Name: |
Steven
Rossi |
| |
Title: |
Chief
Executive Officer |
| |
|
(Principal
Executive Officer) |
Exhibit
99.1
Worksport
Ltd. ($WKSP) Shares Multiple Milestones, Strengthens Market Position as Initial Crypto (BTC and XRP) Investment Nears
Reports
117% Dealer Network Growth, Secures Initial Pre-Orders from Leading Distributors, and Advances BTC/XRP Integration
West
Seneca, New York, December 13, 2024 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”),
a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods
sectors, today provided a corporate update for December 2024. From accelerated sales, pre-orders, and expanding dealer networks, to establishing
a proactive strategy in treasury management by incorporating Bitcoin (“BTC”) and Ripple (“XRP”), Worksport is
excited to share the latest updates.
Driving
Growth Through Strategic Initiatives
Worksport’s
recent success reflects a series of strategic initiatives that have generated meaningful traction and interest. The Company’s move
to proactively diversify its corporate treasury—allocating up to $5 million in Bitcoin and Ripple, capped at 10% of excess
cash—reinforces Worksport’s belief in the long-term potential of digital assets as inflation-resistant stores of value. This
approach, coupled with the Company’s expanding product portfolio and dealer network, has strengthened its foothold in a rapidly
evolving market.
“This
past week marks an inflection point for Worksport’s growth trajectory,” said Steven Rossi, Chief Executive Officer of
Worksport Ltd. “Our proactive decision to integrate Bitcoin and Ripple into our treasury strategy, coupled with noteworthy
sales increases, 117% growth in our dealer network, and encouraging pre-orders volumes of our upcoming AL4 from two leading
U.S distributors, reflects our commitment to innovation and long-term value creation. The attention we’ve received from leading
crypto custodians further validates our approach, and we’re eager to leverage their expertise to maximize returns on these digital
assets by considering unique strategies like crypto staking.”
Crypto
Integration and Industry Recognition
Following
the Company’s announcement to adopt BTC and XRP in its corporate treasury, notable players in the cryptocurrency sector took notice.
Two leading crypto custodians have approached Worksport with their services, and the Company is now evaluating these proposals
to ensure secure, compliant custody of its digital asset holdings. As Worksport prepares to engage in initial BTC and XRP purchases,
it is also exploring staking opportunities that could potentially enhance treasury returns. Worksport is actively working
towards enabling crypto payments for purchases on its e-commerce platform, www.worksport.com.
Expanding
Sales and Dealer Network
| ● | Sales
Growth: In the wake of last week’s announcement of a 51% increase in B2C
sales and a 60% rise in B2B sales, Worksport is pleased to share that its dealer
network has grown by 117% since September 2024. This increase in partners,
coupled with the recent boost in brand visibility, positions the Company to further capitalize
on robust demand. |
| | | |
| ● | Upcoming
Product Launches: The Company’s forthcoming AL4 tonneau cover has
already secured pre-orders from two leading industry distributors. With the AL4’s
scheduled launch approaching, Worksport expects to capture greater market share. Following
the AL4, the Company will introduce its SOLIS solar tonneau cover and COR
mobile power generation system later in 2025, expanding its portfolio of clean-tech
innovations designed to meet the growing need for sustainable energy solutions. |
Enhanced
Visibility Through National Television Exposure
Worksport’s
recent appearance on FOX & Friends on December 8, 2024, showcased its upcoming clean-tech products and American-made tonneau
covers to a nationwide audience. This high-profile exposure has generated new peripheral opportunities for brand penetration,
and even broader market engagement. The positive reception underscores the Company’s potential to convert heightened visibility
into tangible growth across its business lines.
Key
2024 Press-Releases
| ● | December
6: Worksport Shares 51% B2C and 60% B2B Sales Growth in November |
| ● | December
5: Worksport Adopts Changes To Corporate Treasury |
| ● | November
22: Worksport Announces 30% Increase in Production Capacity |
| ● | November
21: CEO Insider Purchase; Worksport Investigates Short Selling |
| ● | October
29: 200% Growth in B2B Sales; Pre-Order Campaign Initiated For AL4 |
| ● | October
17: Nasdaq Grants Extension To Regain Compliance |
| ● | October
17: $2MM+ Projected Savings From New Strategic Initiative |
| ● | September
30: Update On ISO Certification |
| ● | September
19: Alpha Launch of SOLIS & COR |
| ● | September
11: Worksport COR as an EV Range Extender for Tesla Model 3 |
| ● | August
14: Record High Revenues; 275% Q2 Growth |
| | ● | May
8: Worksport Awarded $2.8MM Grant |
Read all Worksport press releases: [Link to
All Press Releases].
About
Worksport
Worksport
Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau
covers, solar integrations, and NP (Non-Parasitic), hydrogen-based true green energy solutions for the sustainable, clean energy, and
automotive industries. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s hard-folding
cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers
including the EV sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with
its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. Terravis Energy’s
website is terravisenergy.com. For more information, please visit investors.worksport.com.
Connect
with Worksport
Please
follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube,
and Instagram (collectively, the “Accounts”), the links of which are links to external third party websites, as
well as sign up for the Company’s newsletters at investors.worksport.com. The Company does not endorse, ensure the
accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the
Company.
| Product
social media |
|
Investor
social media |
| Instagram |
|
X
(formerly Twitter) |
Facebook
YouTube |
|
LinkedIn
Link
to Newsletter |
Investors
and others should note that the Company announces material financial information to our investors using our investor relations website,
press releases, SEC filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and
other information. The Company encourages investors, the media, and others to review the information the Company publishes on social
media.
The
Company does not selectively disclose material non-public information on social media. If there is any significant financial information,
the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For
additional information, please contact:
Investor
Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Forward-Looking
Statements
The
information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current
view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,”
“expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “should,”
or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements.
These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends,
the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and
financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially
from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance
of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other
producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking
statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without
limitation, our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC’s web site at www.sec.gov. As a result of these matters, changes in facts, assumptions
not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed
in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made
only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
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Worksport (NASDAQ:WKSP)
過去 株価チャート
から 11 2024 まで 12 2024
Worksport (NASDAQ:WKSP)
過去 株価チャート
から 12 2023 まで 12 2024
